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野村:重申對中國燃氣(0384.HK)買入評級 目標價33.5港元
格隆匯 06-01 12:58

野村發表研究報吿指,雖然中國燃氣(0384.HK)2021財年上半年的售氣量僅按年增長10%,但管理層相信,下半年將有強勁增長,因此全年售氣量按年增長15%的指引屬可行。野村維持中國燃氣目標價33.5港元,重申買入評級。

野村表示,集團去年10月、11月、12月及今年1月的售氣量,分別按年增長15%、18%、30%和35%,而由於新型冠狀病毒肺炎疫情導致基數較低,今年2月及3月的售氣量增長更較今年1月份更高。

該行又指,中國燃氣於4月22日完成股份配售,集資117億元。根據管理層介紹,集資所得的40%至45%將用於包括併購的傳統天然氣業務,25%用於LPG智能微電網,而25%則用於城市供熱方面。管理層亦預期,派息比率將由2020財年的28%,提高至2021年的30%。

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